Although this is very possibly the most famous yoga posture, it has unfortunately taken on a more 'advanced' aspect for many of us, given the lifestyle changes the last few generations have adopted. So it is recommended only after Sukhasana, or the Easy pose has been practiced sufficiently.
Seat yourself crosslegged, as described in the Easy pose, and then using both hands, draw one foot up to rest on the upper thigh of the opposite leg. Then do the same with the other foot, so that both feet are resting on the thigh of the opposite leg -- their soles will be facing upward, as shown in the picture.
Next, place your hands in the chin mudra, shut your eyes and begin meditation.
Benefits: Same as Sukhasana. The re-directed blood circulation in this meditative pose also spikes your metabolism, because of the blood flow in the digestive system. This explains why people who meditate eat sparingly or keep their dietary habits under control -- their bodies utilise energy most efficiently.
Points to note: As in Sukhasana, try not to favor just one leg.
Contraindications: Avoid if you have lower back and/ or knee problems.
Also read: 6 yoga steps to healthier lungs